Gunwerks to receive money through government sponsor
Written by jordanmckamey on November 6, 2018
Money the state has awarded for a Gunwerks expansion project in Cody will find its way to the private company through the city, acting as sponsor, and Forward Cody, which will administer the building project, this according to a report from the Cody Enterpirse on Monday.
Funds awarded to cities and counties through the Wyoming Business Council’s Business Ready Communities Program are intended to create new jobs, diversify economic activity, enhance sales taxes and improve property tax base. The financial assistance may benefit private businesses. But the money is not paid directly to a company or its owner. Rather, it is paid to the sponsoring government entity as reimbursement.
Last summer the city council agreed to sponsor applications seeking state money for the Gunwerks Manufacturing Facility Project. On Oct. 4 the State Loan and Investment Board, acting on WBC staff and board recommendations, awarded the full request of $3 million in grant funds and a $3 million low-interest loan.
The money will pay for improvements to a vacant lot north of Big Horn Cinemas along with construction of infrastructure and a prefabricated manufacturing facility.